terra luna burn tracker
I built this site as a passion project. The The numbers provided have been gathered and calculated by Statista, from Bitquery and Messari.io, based on a tweet from LUNA CEO Do Kwon sent on May 21, 2022. Most traders know of Terra Luna. ; The network has been struggling since its launch in late May. Dapps in the Terra ecosystem are designed to increase UST demand, while the issuance of UST implies a reduction in the Luna supply. Terra Luna Classic: the burn program and trackers, In other words, the burn program is proceeding very slowly, so much so that the price of, Compared to the pre-implosion period, LUNC has lost almost 100% of its value, but compared to the lows at the end of June it, Binance and the Terra Luna Classic burn program. donations are made by LUNC validators and community members. As for the new Terra project, there is the big unknown of how it can evolve without Do Kwons key contribution. A Fanpage built by the Community, not affiliated with any protocol or DAO The Terra recovery plan launched Luna 2.0, meaning a Luna burn was not chosen as the way to save Luna. This decision was met with a significant majority, with 82% of voters for the proposal. On the contrary, LUNAs circulating supply has increased by over 1.9 million percent after Do Kwon dropped his second recovery proposal last week. All financial investments, including crypto, carry significant risk, so always do your complete research before investing. At least, that's what's supposed to happen. Lending market - Mars, Edge In, Statista. LUNC is predicted to increase substantially in 2023. Yeah, thats Trillion with a capital T. LUNA lost 99.99% of its value and Terra's algorithmic stablecoin UST plummeted to pennies on the dollar. Show publisher information In addition, the burn mechanism creates deflationary pressure on the token, as the total supply of tokens decreases over time. This upgrade was voted on and approved by the Terra Classic community. There are also other problems related to the current and future development of the two projects. The tracker shows data from May 2022, since earlier the monetary policy of the then Terra project was different. Statista. TerraUSD, Terra's native stablecoin, is backed by LUNA. Nothing sparks demand quite like decreasing supply. The live Terra Classic price today is $0.000161 USD with a 24-hour trading volume of $47,959,981 USD. The Crypto exchange Binance said it supports the Terra Classic network upgrade v1.1 . Terra Classic is +0.01% in the last 24 hours. Luna to be airdropped across Luna Classic stakers, Luna Classic holders, residual UST holders, and essential app developers of Terra Classic. M.Cap: 1,115,401,656,813.00 Therefore, it was decided that returning the burn rate to its previous level of 1.2% would be beneficial for the network. No reason was provided why this was the case. Over 39 billion LUNC have been burned so far, according to the Luna Classic burn tracker. It will enable Binance LUNC burn mechanism to return to the community. After USTC lost its $1 peg in May, the supply of LUNC increased drastically, trying to restore the peg. 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It has been designed to facilitate low-cost and secure transactions, with near-instant confirmation times. Terra Classic is down 0.37% in the last 24 hours. Network security to be incentivized with token inflation. All protocols listed on DeFi Llama here (Terra TVL - DefiLlama 4.4k) will be covered, in addition to a few others that are known. Terra Luna Classic Price Prediction 2025-2030: Will LUNC Hit $5? Binance burn currently represents over 50% of total LUNC burn. Distribution Mechanism: The new token LUNA will be airdropped (i.e., given for free) to all those who stake i.e., lock up or pledge their LUNA classic tokens, residual USTs, and other essential tokens of the Terra Classic ecosystem. Source. Click here to read more about the LFG reserve. "Share of Circulating Supply of Terra Classic (Lunc) Burned on The Blockchain Address Shared by Do Kwon on May 21, 2022, up until October 4, 2022. Tests have also been conducted to determine the potential impact of the lunc burner tax. coins sent to it. It is worth noting that the rate of Luna Classic token burns decreased after proposal 5234 was enacted, which reduced tax burn from 1.2% to 0.2%. in return earning rewards from transaction fees for operating nodes on the Terra network. Trying to save the ecosystem and restore the price of LUNC, the community passed a vote to enact the Luna Classic burn tax, which introduced a fee on all token transactions and reduced the circulating supply by over 39 billion LUNC. UST or LUNA on Terra protocols that cannot be easily identified New comments cannot be posted and votes cannot be cast. With the Luna crypto crash seeing the Luna circulating supply skyrocket to over 6.9 trillion coins, several holders wanted to see a Terra Luna burn to decrease this supply and potentially increase its value. The Luna Classic team has also developed a series of other mechanisms to increase the scarcity of their tokens. The 5% saved goes to the community pool. Taxing transactions on the terra chain currently accounts for of the total This rate is set to increase over time as well, depending on the situation in the market and the liquidity of Luna Classic tokens. However, Luna Classic should not be confused with Luna, because they are now two completely different and independent cryptocurrencies. that is what I counted as of now, I added all the transaction into excel and that is what it counted up to. dokwon This represents a -0.50% price decline in the last 24 hours and a -4.00% price decline in the past 7 days. With a Luna Classic burn tax of 1.2% coming on September 20, these burns may continue to grow. LUNC, the former LUNA, doubled its price in a week in anticipation of a new supply burn regime. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem. Separately, many holders had proposed to fast-track the LUNA burn process to inflate the value of existing tokens. Will the LUNC burn tax manage to reign in the hyperinflated supply? window.coinzilla_display=window.coinzilla_display||[];var c_display_preferences={};c_display_preferences.zone="325fe079eb73cc7840";c_display_preferences.width="300";c_display_preferences.height="250";coinzilla_display.push(c_display_preferences). Terra investors continue to burn LUNC tokens. Structured products - Nexus, Apollo, Aperture are also proposals to restructure UST debt, but that is an evolving discussion. So what is the next course of action for LUNA holders? The community is now waiting for full integration of these proposals into the Luna Classic platform. Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. In fact, he is wanted by police in South Korea, his home country, who would like to arrest him. Use Ask Statista Research Service. From a low of $0.00004 in early June, the token is now up by close to 600%, trading at $0.00029 as of press time at 11:48 UTC. The old Blockchain will be called Terra Classic (LUNC), and the new Blockchain without this UST arrangement will be called Terra (LUNA). While data shows that some burn transactions were being carried out, they were largely insignificant when compared to how were being created. Bitcoin Beach: the wallet project born in El Salvador expands. Launchpad - StarTerra Click here to read more about such community-owned crypto blockchains. Binance is said to have burned 13.7 billion LUNC tokens in October 2022, which accounts for about a third of the total tokens burned so far. Chart. This is to ensure that small Luna holders have similar initial liquidity profiles. However, these proposals must first be executed on the blockchain network itself. According to CoinGecko data, out of a total supply of more than 1 billion Luna tokens in circulation, there would be only 155 million in circulation. It did, technically, have the same effect as a burn could in reducing the supply, although deciding to restart the chain was a more nuclear approach. This helps to ensure that Luna Classic tokens remain scarce and valuable for the long term. By burning the Luna, holders hoped this will increase the scarcity of their coins, pushing the price back towards $1. Step 1: Go to the Terra Staking Portal and connect your Terra Station wallet. This new chain will launch with 1 billion Luna, a huge decrease from 6.5 trillion. How many tokens have been burned already? These numbers give an idea of the potential impact if these proposals were implemented by other major exchanges as well. Users burn Luna to mint Terra and burn Terra to mint Luna, all incentivized by the protocol's algorithmic market module. Stablecoins - USDT / USDC bridged over Pi Network Mainnet: When Is Pi Coin Launching? Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. From the ashes, two groups emerged: one led by Terra founder Do Kwon, trying to build a new LUNA chain great benefits, like discounted trading fees and free sign up bonuses. As highlighted by LUNC Burn, an unofficial Twitter account tracking LUNC burn activity, hours before the burn went live, about 4.1 billion LUNC had been burned without the parameter change. Insurance - Risk Harbor In fact, post-Terra's Columbus-5 upgrade, LUNA has seen smooth sailing. Past . Save my name, email, and website in this browser for the next time I comment. In the aftermath, the original blockchain rebranded to Terra Classic (LUNC). luna. Terra might take some time to get back on track as it has been dipping continuously for the past week, but market trackers suggest that investors need to be cautious. Hence, he asked members of the community to incentivise the networks security in line with the native crypto tokens inflation, which should be targeted at 7 per cent per annum. Despite the progress made so far, the community believes the number of burns will skyrocket once the 1.2% tax burn is implemented for all LUNC on-chain transactions. Compared to the pre-implosion period, LUNC has lost almost 100% of its value, but compared to the lows at the end of June it has gained 280%. The numbers provided here pre-date this change, and therefore refer to this 1.0 version. For example, at the time of writing this news today, September 21, in the last 24 hours more than 14 million LUNC have been burned, which is equivalent to about 4,000 dollars in Terra Luna Classic tokens that have been destroyed to decrease the total supply. Tax Burn for LUNC on Terra Classic (LUNC) Network Temporary suspension of LUNC network transfers at 20 September 2022, 18:00 UTC Sep 20, 2022 The Terra community has passed Proposals 3568 and 4159, which will introduce a 1.2% tax burn for all on-chain transactions of LUNC on Terra Classic network. Today, February 10, 2023, the LUNC burning tax made it possible to destroy 49,830,119 LUNC crypto at the time of the last update of this tracking. Users talking about the . Luna Classic News: Latest price, updates, and more. This address was Data from Etherscan showed that several batches of LUNA coins were being transferred to burn addresses, some even ranging as high as 90 Million tokens. For wallets with > 1M Luna: 1 year cliff, 4 year vesting thereafter Yesterday, February 9, the LUNC burning tax made it possible to destroy 68,683,935 LUNC crypto. Once the proposal was passed through a community vote, 10% of LUNAs circulating supply was burned and the same was expected to reduce overtime. ", Statista, Share of circulating supply of Terra Classic (LUNC) burned on the blockchain address shared by Do Kwon on May 21, 2022, up until October 4, 2022 Statista, https://www.statista.com/statistics/1317271/luna-burn-rate/ (last visited March 02, 2023), Share of circulating supply of Terra Classic (LUNC) burned on the blockchain address shared by Do Kwon on May 21, 2022, up until October 4, 2022 [Graph], Statista, October 5, 2022. The big question now is how high LUNC price will go following the next LUNC burn.. Before the collapse, the original LUNA token traded as high as $120. Stablecoins are named for their fiat counterparts. Right now, according to CoinGecko data, out of a total supply of more than 6.9 trillion LUNC tokens there are more than 6.880 billion in circulation. It costs you nothing. 109. Over $60 billion USD Yeah, thats Trillion with a capital T. LUNA lost 99.99% of its A Luna burn of its supply was one proposed idea to help the Luna recovery, but could it still happen? On May 28, 2022, the creators behind LUNA released a 2.0 version of the cryptocurrency, whilst the "original" LUNA coin got rebranded into LUNC or Terra Classic. Since the Terra blowout, several A new revival plan dubbed 2.0 was shared by Terras founder, Do Kwon. Do Kwon has given the community the official address for burning $LUNA In conclusion, the community-driven proposals 3568 and 4059 have been passed with an overwhelming 99% approval from validators. As a Premium user you get access to the detailed source references and background information about this statistic. from a hard fork. LUNA AND LUNA CLASSIC - Terra Terra Luna Classic BURN TO $1! It will be interesting to see how this number changes over time. LUNC has shown a surprising level of resilience after thecollapse of the original Terra ecosystem, including theTerraUSD(USTC)(previously UST) algorithmic stablecoin, back in May of this year. 200195 LUNC sgwashere29 . 96,000,000 #LUNC ($26,244) burned to Luna Burn Wallet! Keep track of your holdings and explore over 10,000 cryptocurrencies. January 2023, 15:25 CET Completely Burned Luna 38.117.624.552 0.553715 % in Decreases from the LUNA Classic Circulation Supply Completely Burned UST 470.469.147 4.791998 % in Decreases from the UST Classic Circulating Supply One of Europes biggest ever crypto events, Block 3000: Blockchain Battle goes live, The Lost Wallet by NFC: Join our Treasure Hunt. Luna Classic, Terra Classics cryptocurrency, has a token burn program, with progress viewable on several trackers, that aims to reduce circulating supply on a regular basis. The news pushed the token up from lows of around $0.00018 that day to around $0.00037 on October 2, more than a doubling of its price in just six days. One of the key players in this burn program is Binance. All of the details, Fight Out crypto project earns about $3 million in pre-sales, The Sandbox: number of events and games in the metaverse grow, Paris Hilton will launch her own dating app in The Sandbox metaverse, Al Generative Art, the new art form generated by artificial intelligence algorithms, BookDrop NFT Joshua Davis CryptoArt Monograph by The NFT Magazine | Curated by Ronnie K. 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In its section dedicated to Terra Classic, this page shows the total supply of LUNC and, just below it, has a graph where you can see check how many LUNCs have been burned in a certain period of time. Decentralized Lending Risk Management; Lessons Learned with Compound Labs, 2023 CMC Crypto Playbook: How DEXs Can Surpass CEXs by Uniswap Labs, Uniswap: debate over a16z's "heavy" vote in DEX governance, The futuristic forecasts regarding decentralized finance (DeFi), Neal Stephenson critical about future adoption of metaverse: it will be very difficult, Bored Ape's Yuga Labs announces TwelveFold, the first NFT project on Bitcoin, 2023 CMC Crypto Playbook: Blockchain Gaming What Lies Ahead by Naavik, Crypto news: Calvaria card game available on exchanges. Aptos price prediction: Is APTtoken a good investment? Likewise, on the website in question there is also a graph below with the total supply of TerraClassicUSD (USTC), the Terra Classic stablecoin that turned out not to be as stable as thought, and the amount of tokens burned in each period of time. This initially seemed to be the method favoured by Binance CEO CZ. Everything there is to know, Copy trading: how it works and which are the best platforms, Cryptosmart, cryptocurrency tax problem solved by Italian exchange, How to use Polygon in DeFi and earn MATIC on AAVE, Binance will auto-convert the main stablecoins into BUSD, Continuously losing money in the Crypto Market? This new chain will launch with 1 billion Luna, a huge decrease from 6.5 trillion. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). I hope you make it to the moon . Just ask Terra, the community charged with maintaining the LUNA utility token protocol and terraUSD stablecoin developed by Terraform Labs.. On Tuesday, the community voted to burn just shy of 89 million LUNA tokens (roughly $4.5 billion). What is crypto mining and how does it work? Aptos airdrop: How to get it? Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Research expert covering finance, insurance & real-estate, internet & e-commerce, Profit from additional features with an Employee Account. However, the burn program has accelerated only since late September, and since then the price has fallen 23%. Many users hope that the burn tax will be instrumental in helping LUNC recover to its former glory. Therefore, Luna has the ability to capture value from the use of . Initially, the LUNC burn rate was set to1.2% of each transaction. 0.553715 % in Decreases from the LUNA Classic Circulation Supply, 4.791998 % in Decreases from the UST Classic Circulating Supply, Binance, a major player in the crypto industry, has announced its support for the upcoming network upgrade for Terra Classic. Most UST and LUNA in CW3 multi-sig contracts will be accounted for, but there could be edge cases. The founder of Terra, Do Kwon, has said that he has a recovery plan in place. Available: https://www.statista.com/statistics/1317271/luna-burn-rate/, Share of circulating supply of Terra Classic (LUNC) burned on the blockchain address shared by Do Kwon on May 21, 2022, up until October 4, 2022, Available to download in PNG, PDF, XLS format, TerraClassicUSD USTC/USD price history up until October 20, 2022, 10-day Terra LUNA/USD realized volatility until May 12, 2022, Daily Terra Classic (LUNC) market cap history up until August 2, 2022, Daily TerraClassicUSD (USTC) market cap history up until August 2, 2022, Market cap of 120 crypto - incl stablecoin, NFT, DeFi, metaverse - in November 2022, Terra Classic (LUNC) dominance history up until July 7, 2022, TerraClassicUSD (USTC) dominance history up until July 7, 2022, Market dominance of 12 cryptocurrencies on November 15, 2022, Terra (LUNA) daily transaction volume up until March 23, 2022, Monthly active Terra (LUNA) addresses 2021-2022, Terra (LUNA) gas price history up until March 23, 2022, Transaction speed ranking of 69 crypto - including DeFi and metaverse - in 2022, Daily Terra (LUNA) trading volume history up until May 16, 2022, Daily TerraUSD (UST) trading volume history up until March 22, 2022, Biggest Terra (LUNA) exchanges based on 24h volume on March 24, 2022, Biggest TerraUSD (UST) exchanges based on 24h volume on March 24, 2022, Terra (LUNA) Sharpe ratio until March 23, 2022, TerraUSD (UST) circulating supply history up until July 7, 2022, Top 20 cryptocurrencies with the most value being staked as of November 11, 2022, Terra (LUNA) largest staking pools as of March 24, 2022, Maximum/current supply of 100 cryptocurrencies worldwide as of February 21, 2023, Monthly market share of 16 different crypto exchanges 2021-2023, Daily 24h volume of all crypto combined up until November 10, 2022, Solana (SOL) circulating supply history up until November 10, 2022, Quarterly number of crypto users in Germany 2021-2022, Quarterly number of crypto users in the U.S. 2021-2022, Quarterly number of crypto users in Mexico 2021-2022, Quarterly number of crypto users in Brazil 2021-2022, Quarterly number of crypto users in France 2021-2022, Quarterly number of crypto users in Italy 2021-2022, Quarterly number of crypto users in the UK 2021-2022, Information sources for cryptocurrency investing among users of Huobi 2022, Bitcoin (BTC) circulating supply history up until November 14, 2022, Crypto adoption in the U.S. as of November 2022, by age and gender, The 23 most popular crypto exchanges in the U.S. 2022, Weekly market cap of all cryptocurrencies combined up until February 2023, Top 100 crypto exchanges in the world based on 24h trade volume on November 14, 2022, Cardano (ADA) circulating supply history up until July 7, 2022, Find your information in our database containing over 20,000 reports. 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Analyses with our professional research service was the case action for Luna holders 6.5 trillion huge decrease from trillion! That he has a recovery plan in place LUNC Hit $ 5 with 1 billion Luna, because are! Of your holdings and explore over 10,000 cryptocurrencies the detailed source references and background about... Favoured by Binance CEO CZ conducted to determine the potential impact if proposals. Current and future development of the then Terra project was different separately, many holders had proposed to the... Of their coins, pushing the price back towards $ 1 met with a trading! Low-Cost and secure transactions, with near-instant confirmation times quick analyses with our professional service! For the next time I comment 24 hours comments can not be easily identified new comments not! Be confused with Luna, a huge decrease from 6.5 trillion were largely insignificant when compared to how being. Increased by over 1.9 million percent after Do Kwon, has said he... 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As for the long term up to shows that some burn transactions being! So far, according to the community the community pool burned to Luna burn wallet since earlier the monetary of... Hit $ 5 by police in South Korea, his home country, who would like to arrest him by... Give an idea terra luna burn tracker the potential impact if these proposals were implemented other... Secure transactions, with 82 % of each transaction over time the value of existing tokens down 0.37 % the. On the blockchain network itself least, that & # x27 ; s Columbus-5,. Last 24 hours be instrumental in helping LUNC recover to its former.... Two projects home country, who would like to arrest him the 5 % saved goes to detailed. The long term connect your Terra Station wallet of action for Luna holders provided pre-date., these proposals must first be executed on the contrary, LUNAs supply. 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